Waste Connections Inc (NYSE:WCN) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 1,980,000 shares, an increase of 36.6% from the June 30th total of 1,450,000 shares. Approximately 0.8% of the company’s shares are short sold. Based on an average daily volume of 914,100 shares, the days-to-cover ratio is currently 2.2 days.
Waste Connections stock opened at $102.37 on Friday. Waste Connections has a 52 week low of $70.87 and a 52 week high of $105.17. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a market capitalization of $26.91 billion, a P/E ratio of 37.09, a PEG ratio of 4.99 and a beta of 0.47. The stock has a 50-day simple moving average of $95.00 and a 200 day simple moving average of $92.63.
Waste Connections (NYSE:WCN) last posted its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. Waste Connections had a return on equity of 10.71% and a net margin of 10.63%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the company posted $0.62 earnings per share. Waste Connections’s quarterly revenue was up 8.7% on a year-over-year basis. Research analysts forecast that Waste Connections will post 2.42 earnings per share for the current year.
In other news, CEO Worthing Jackman sold 18,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $92.26, for a total value of $1,660,680.00. Following the transaction, the chief executive officer now owns 113,239 shares of the company’s stock, valued at approximately $10,447,430.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.30% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust acquired a new stake in Waste Connections during the first quarter worth approximately $27,000. Asset Advisors Investment Management LLC acquired a new stake in Waste Connections during the second quarter worth approximately $28,000. Balentine LLC acquired a new stake in Waste Connections during the first quarter worth approximately $32,000. Prestige Wealth Management Group LLC lifted its position in Waste Connections by 1,094.1% during the first quarter. Prestige Wealth Management Group LLC now owns 406 shares of the business services provider’s stock worth $32,000 after acquiring an additional 372 shares during the last quarter. Finally, Ameritas Investment Company LLC acquired a new stake in Waste Connections during the first quarter worth approximately $34,000. Institutional investors and hedge funds own 80.61% of the company’s stock.
WCN has been the topic of a number of analyst reports. KeyCorp increased their price target on Waste Connections from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Deutsche Bank increased their price target on Waste Connections from $96.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, May 11th. AltaCorp Capital reissued a “sector perform” rating on shares of Waste Connections in a research note on Thursday, May 7th. UBS Group dropped their price objective on Waste Connections from $156.00 to $146.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Finally, Royal Bank of Canada raised their price objective on Waste Connections from $98.00 to $106.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $107.93.
Waste Connections Company Profile
Waste Connections, Inc provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through six segments: Southern, Western, Eastern, Canada, Central, and Exploration and Production (E&P). It offers collection services to residential, commercial, municipal, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.
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